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Argentina abandons free float as peso crisis continues

The Central Bank of Argentina

Banco Central de la República Argentina

Central Banking Newsdesk

30 Apr 2019

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The Central Bank of Argentina (BCRA) largely abandoned its policy of non-intervention in the exchange rate on April 29, while still claiming it is retaining the flexible exchange rate policy agreed with the International Monetary Fund (IMF).

The peso suffered a sharp drop this month, falling more than 9% against the US dollar between a peak on April 18 and April 29, as investors questioned reform progress in the troubled Latin American economy. Overall this year, the Argentine currency has